Director of IDRBT on How to Make Banks Cyber ResilientProfessor D. Janakiram Discusses the Challenges Facing CISOs in 2023
As the banking sector undergoes a digital transformation, the future of banking requires both securing transactions and building cyber resiliency through consistent cyber drills and creating private networks for secure financial transactions, says professor D. Janakiram, director of the Reserve Bank of India's Institute for Development and Research in Banking Technology.
To bolster cyber resiliency across the financial sector, Janakiram says, "We take two approaches: One is the cyber drill as a way of preparing banks for cyberattacks, and we keep on designing the threat vectors based on the threat intelligence we get from all over the world. We create threat vectors and use them as part of launching attacks on hosted environments of the banks to prepare them for the attacks."
As the second approach, Janakiram recommends the concept of creating a financial private network not connected to the internet to secure digital transactions.
In this video interview with Information Security Media Group at ISMG's Cybersecurity Summit held in Mumbai, Janakiram, the conference's keynote speaker, discusses:
- Technological innovations in the banking sector;
- Redefining how banks operate in the digital age;
- CISO priorities in the security ecosystem for 2023.
Janakiram has served as a professor at the Indian Institute of Technology Madras for over 30 years. His current research is on building large-scale distributed systems, cloud computing, and blockchain technologies.